What To Expect if You Buy or Sell a Home This June
June is a bustling month in the housing market, with many people buying and selling homes. If you're planning a move this month, here’s what you need to know to prepare effectively.
For Buyers: Navigating a Competitive Market
June is a peak time for homebuyers, particularly those with school-age children who prefer to move between school years. This seasonal trend increases the number of buyers, which means you might face more competition. However, there's a positive side – more sellers typically list their homes during this period, giving you a wider selection of properties to choose from. As noted by Bankrate:
“Late spring and early summer are the busiest and most competitive time of year for the real estate market. There’s usually more inventory listed for sale than other times of year... This is a double-edged sword for a buyer, as you will be met with more opportunities but [also] much more competition.”
In such a dynamic housing market, working with a trusted real estate agent is crucial. An experienced agent can keep you informed about the latest listings, help you craft a competitive offer, and provide valuable insights into home valuations. Forbes emphasizes the importance of having the right mindset:
“Approaching the market confidently, armed with good information and grounded expectations will take you far. Don't let the hustle of the market convince you to buy something that’s not in your budget, or not right for your lifestyle.”
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For Sellers: Capitalizing on High Demand
June offers an excellent opportunity for sellers, as the influx of motivated buyers often leads to stronger offers. Many buyers are eager to close deals before the new school year, which can work to your advantage if your home is priced appropriately and shows well. According to the National Association of Realtors (NAR):
“Warmer weather and the end of the school year encourage more people to buy and sell, respectively. Buyers are looking to move and settle before the new school year begins, contributing to increased competition and, consequently, higher prices.”
To navigate this busy market, ensure you have a skilled real estate agent to handle offer contingencies and negotiations. Timing can be critical, as some buyers might need to align their move with the school calendar. U.S. News Real Estate advises:
“. . . if your house goes under contract in early summer, the buyer may ask for a delay in closing or move-in until the school year finishes or their current home has sold. Alternatively, a buyer later in summer may be looking to close quickly and move in under a month. Remain flexible to keep the deal running smoothly, and your buyer may be willing to throw in concessions, like covering some of your closing costs or overlooking the old roof.”
Bottom Line
If you’re planning to buy or sell a home this June, it’s essential to understand the unique dynamics of this peak season. Let's connect to discuss your goals and create a plan tailored to current market conditions, ensuring a smooth and successful transaction.